News Article

Greek Market Remains Rough

ATHENS – Greece – Greece is still in a very difficult economic situation, some say the worst ever. This is reflected in the state of the bicycle market. However, a love of cycling and the lifestyle connected with it brings optimism.

A love for cycling and the lifestyle connected with it brings optimism in Greece.

The Greece bicycle market shows a continued decline for the last five years. It’s estimated that in 2015 another over 10% drop occurred. Annual sales stands now at some 180,000 bikes with the majority of them in the lowest price range. At the other end there’s interest for MTBs that have price tags of over €1500.

Greece Bike Import (in units and euro)

2015

2014

2013

2012

Quantity

114,450

120,946

129,141

199,609

Value

9,601,127

11,588,169

13,615,443

15,610,875

Source: Eurostat

Bicycle production in Greece has grown a bit and export figures for 2015 show a small increase in volume. But the numbers for first eight months of 2016 are down significantly; around 25%. But Ideal and childrens’ bike maker Orient are still producing impressive numbers. Ideal is also among the companies exploring the slowly growing e-bike market. Eurostat numbers show an import of about 1,000 e-bikes as well as some 7,000 electric scooters and mopeds. A clear indication that in Greece there’s an emerging trend to e-bikes such as seen in other countries.